System:
This trade was entered based on the Elite setup on 30 minute chart.
Reason:
Around 4:30 pm, the 3 EMA crossed the 34 SMA. The 34 CCI also crossed above 0. Towards the end of this candle, around 4:55pm, I entered the trade long close to the top of the candle. Since the spread on this pair is large, my entry point was above the high of the candle at 2.01148. The stop was placed 30 pips away at 2.00848, and the profit target was initially placed 50 pips away. But after a few failed attempts by the pair to move beyond 30 pips, I changed the profit target to be 25 pips away at 2.01398.
Finally after more than 3.5 hours, the profit target was hit at 8:40pm.
Lots: 10
Entry (Long): 2.01148
Stop Loss: 2.00848
TP: 2.01398
Total Pips: +250
Total Profit: $246.99
Rating:
I will rate this trade a 4 star. The entry was as per setup and executed well. The stop was set and never modified. But I modified the target point.
0 comments:
Post a Comment